08-21-2014, 04:42 PM
I've struggled with this for the better part of this year. I pick a stock I like and a price I like it at. Then that stock reaches that price, I don't buy because I fear it will keep dropping, then the price goes up. And continues to go up and up and up and then fear I missed my chance. Logically, I know I can't time the market and I'm not making any money not being invested. I also know long term high quality companies will come back. Emotionally, I fear buying now and missing a better buying opportunity later. I need to invest logically, not emotionally, but that's easier said than done.
Currently all the stocks I like are at prices higher than I want to pay. I'm sitting on about 25% cash, which I also don't like. At most I like to sit on 10% cash. Maybe 20 if I'm close to making a buy. Now I'm on the verge of making an emotional buy just because I feel like I need to buy something. I'm literally driving myself nuts trying to figure out what to do.
I've come to the conclusion that I'm not going to wait for a market correction, but I can't figure out if I should buy at current prices or keep waiting on the sidelines.
Currently all the stocks I like are at prices higher than I want to pay. I'm sitting on about 25% cash, which I also don't like. At most I like to sit on 10% cash. Maybe 20 if I'm close to making a buy. Now I'm on the verge of making an emotional buy just because I feel like I need to buy something. I'm literally driving myself nuts trying to figure out what to do.
I've come to the conclusion that I'm not going to wait for a market correction, but I can't figure out if I should buy at current prices or keep waiting on the sidelines.